Technical Analysis of Indian Equities by Nooresh


Nifty – Corrections will come and go.

Nifty support


Nifty Technical View


-> Ever since elections the market has seen support around the 50 dema or at the channel support.

-> 50 dema is placed around 8260.

-> Channel support closer to 8150-8180.

-> The trend remains up till we continue to hold the channel supports or above 8000-8050.

-> A lot of stocks have corrected a good 15-30% from recent peaks giving enough opportunities to chip in.

-> Expect a time-wise correction where we can get range bound for some time. A move beyond 8450 will signal a bottom in place.


Till the trend is strong one is better of buying dips and holding on.


Some Thoughts


As a #trader you have to always remember you will have 20-50% of your trades to be losing ones. If it hurts you change yourself not the system.


As an #investor need to remember not every quarter or every month will be positive on price moves πŸ™‚ it can also be negative be ready for it


So after a superb 6 months move on markets where there were huge jumps in stocks ,  one should be ready for a quarter or more of mild negative to mild positive returns.


So tone down your expectations , follow your strategy and going ahead you may again get a similar solid run up in your portfolio if you remain focused and patient.


As the markets go up our expectations increase instead of reducing. This is the time when investors/traders start making mistakes by taking leveraged bets or trying to do more things to get a better return in boring markets and end up messing up the strategy.


Its tough to call a time-wise correction but its better to be ready for it.



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Article by Nooresh Merani

Nooresh has written 2755 articles.

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